Nuances of Using Non-Judicial Settlement Agreements in Trust Administration (Recorded)

A non-judicial settlement agreement (NJSA) is a binding agreement between the interested parties with respect to any matter involving a trust. NJSAs can be helpful in interpreting imprecise trust terms, modifying trust terms, appointing or removing a trustee, ascertaining how to distribute trust assets, or resolving disputes between beneficiaries and trustees. Although most trusts and estate attorneys are familiar with NJSAs by now, they are still relatively new in terms of frequency and nuances. The faculty guide you through these nuances, including a discussion of the pros and cons of NJSAs.